In this specific sense I’m not sure that the insurance itself is considered speculative, but merely a way to minimize/manage the possibility of potential damages in a reasonable way.

If I’m not mistaken, her write up addresses speculation as potential damages as estimated before they could be realized in an uninsured situation, or otherwise taken up by insurers themselves.

The insurance is another thing altogether—a tool to mitigate that real and known risk right now.

(I’m on mobile so I only glanced at her post.)

That said, IANAL or an actuary.